KUALA LUMPUR, Oct 4 — The World Bank has revised upwards Malaysia’s Gross Domestic Product (GDP) growth forecast for this year to 5.2 per cent from 4.9 per cent in June, on the back of a much stronger-than-expected growth of 5.7 per cent in the first half of 2017.
Originally, World Bank forecasted Malaysia’s economy to only grow by 4.3 per cent..
World Bank Malaysia Country Manager Faris Hadad-Zervos said the bank expected Malaysia to continue its growth trajectory route on high level growth.
“Upward estimates reflect Malaysia as an open economy, so the favourable external environment has helped fuel Malaysia’s continued growth.
“Also policies within the country have helped spur domestic demand and public investments.
“These are all very positive things,” said Faris at a press conference to unveil the World Bank’s October 2017 edition of the East Asia and Pacific Economic Update here today.